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iNVEZZ.com reported that spot silver was sluggish yesterday, moving just $0.03 for a close of $18.777 per ounce. The news outlet states that investors are waiting for today’s European Central Bank meeting and Friday’s release of US employment data.
iNVEZZ.com reported that spot silver was sluggish yesterday, moving just $0.03 for a close of $18.777 per ounce. The news outlet states that investors are waiting for today’s European Central Bank meeting and Friday’s release of US employment data.
As quoted in the market news:
Technical indicators suggest silver might be poised for a rebound. The price is more than 7.5 percent below its 200-day simple moving average, while its 14-day relative-strength index at 32.50 is much lower than the neutral level of 50. Some technical analysts see a dip below the 30 level as an indication that an instrument has become oversold, and that a reversal is likely.
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